This module provides an introduction to the study of “green macroeconomics,” viewing the economy as embedded in society, which is embedded in the environment. The module takes a pluralist approach, contrasting neoclassical, post-Keynesian, and classical theory, but uses classical models for illustration. Topics include climate mitigation and adaptation, renewable resources, and energy return on energy invested. An explicit green macroeconomic model is developed over the course of the module to explore the consequences of shifting from a fossil-based economy to one based on renewables.

In this working paper, Jonathan Harris addresses current issues with economic and ecological deficits. See also his related PowerPoint presentation from the 15th Congress of the International Society for Ecological Economics. Harris suggests that a multidimensional measure of ecological deficits is essential, and that a “green Keynesian” approach can offer solutions to both ecological deficits and economic deficit and debt issues.

Three short updates on contemporary environmental and natural resource economics issues are now available. See: Global Biofuel Production, Hydraulic Fracturing in the United States, and Cost-Benefit Analysis and the US Mercury and Air Toxic Standards. This series complements material covered in Environmental and Natural Resource Economics: A Contemporary Approach (Harris and Roach, 2017).

In this working paper, Padmashree Gehl Sampath and Walter Park provide a first empirical assessment on how the patenting system contributes to market concentration and the generation of economic rents in three key sectors – pharmaceuticals, chemicals and ICTs. Using data for US multinationals and their foreign affiliates on the one hand, and locally registered private and public companies in Brazil, India and China on the other, the authors draw important conclusions, with implications for intellectual property policy. They offer suggestions on the role of competition policy in curbing market concentration and related effects on inequality, access and innovation.

Rewriting the Rules of the European Economy is a comprehensive assessment of what ails Europe and what can be done to restore steady, inclusive economic growth and revitalise the European Project. Written by Joseph Stiglitz and a team of high-level scholars and politicians from all over Europe, this bold plan tackles the doctrinaire market fundamentalism that has characterised much of European economic and social policy for the last quarter century. Read the book. Watch event recording.

In this paper published by Real-World Economics Review, Dr. Goodwin focuses on where to find the resources – especially financial resources – for investments in ecological restoration. It considers private sources, public funds and government activities, public-private partnerships, the large pools of capital in insurance companies and pension funds, and the support that can come from philanthropic institutions and individuals.

Timothy A. Wise’s Eating Tomorrow investigates the ways in which agribusiness and philanthropic entities have used food policies to support corporate interests, and how small-scale farmers internationally are advocating for themselves and working towards greater food security. View Chapter 1 of Wise's book. See Wise's other work.

The Third Edition of Macroeconomics in Context is fully updated and featuring revised material on economic recovery, financial instability and inequality, deficits and debt, and "green" macroeconomics. Learn more and request instructor resources here.

The Fourth Edition of Microeconomics in Context is fully updated and featuring significantly revised chapters on globalization and trade, economic and social inequality, labor markets, and public goods. Learn more and request instructor resources here.